Poland may be the fastest-growing ecommerce market in the European Union, it still has a very low conversion rate. And among those internet users who actually do drop items in their virtual shopping cart, a strong majority of 67 percent leave the store without ever completing the transaction.
With an average growth rate of 19% in 2012 the ecommerce industry in Central Europe was growing almost as hard as the European average, which is 19.9%. The region’s ecommerce market was worth 75.9 billion euros in 2012, but it’s expected to have grown to 93.3 billion euros last year, which comes down to an increase of 23% in 2013.
The ecommerce industry in Poland will probably be worth more than 30 billion Polish zloty, ie 7.17 billion euros, this year. At the moment its total sales are at about 25 billion Polish zloty, or 5.9 billion euros. The local ecommerce market is growing rapidly and it’s unlike to slow down this year.
PKO Banks Polsi and EVO Payments International are forming a long-term strategic alliance. Payment service provider EVO Payments will acquire a 66 percent interest in PKO’s merchant acquiring business eService. The two companies will also establish a 20 year alliance under which both parties will continue to work together to grow further eService’s business within Europe.
Annual growth of ecommerce sales in Eastern Europe outpaced that of Western Europe by 13 percentage points in 2012. For this current year a double digit growth above 20% is expected, although this growth is likely to decrease by 2017. But although Eastern Europe grows faster than Western Europe, the latter is still the one accounting for most of ecommerce sales in the whole of Europe.
We all know Facebook, Twitter and Google+. But what about the local social networks in Europe, like Hyves, Tuenti or Yonja? Say you want to expand your ecommerce business to Spain, do you know on which social network you can reach the youngsters? We do! Let’s have a look at some popular social networks in Europe.
E-Commerce Polska has joined Ecommerce Europe. The newly founded ecommerce association in Poland thinks joining the European organization is an important step. “Working together with leading branch organizations all across Europe will enable us to expand our knowledge of important market trends and increase our influence on developments in legislation”, so says Grzegorz Wójcik, organizer of the Polish initiative.
Yeah, you read that correctly. Poland is the fastest-growing ecommerce market in the European Union. And Poland grows really fast, as in 2011 the country, compared to 13 other European countries, ended second-to-last in terms of percentage of retail business done online. And now, according to a report from the Centre for Retail Research, the ecommerce sector in Poland is growing the fastest of them all.